“Roaring Kitty’s Return Sparks GME and AMC Surge: A Memestock Revival”

What is fueling the surge of meme stocks like GameStop and AMC recently, including the…..

The resurgence of GameStop (GME) and AMC Entertainment (AMC) stocks on Monday was driven by the return of Keith Gill, also known as Roaring Kitty, to social media after three years. Gill, a key figure in the meme stock rally of 2020-2021, posted an image hinting at a renewed focus. His previous involvement led to a significant short squeeze on GME stock, drawing attention from regulators. Retail investors celebrated his return, anticipating further market activity.

GME stock surged by 74.5%, prompting temporary trading halts due to volatility. AMC shares also rallied by 78.4%, despite a substantial decline earlier in 2024. The 2021 short squeeze, fueled by online coordination among individual investors, caught short sellers off guard and resulted in substantial gains for GME. This phenomenon, depicted in the movie “Dumb Money,” highlighted the unconventional dynamics of market forces.

The events underscore the impact of social media influencers on stock market movements, particularly within the context of meme stocks. Gill’s return revitalized investor sentiment and reignited interest in GME and AMC stocks, indicating continued volatility and speculation in the market.

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